TMC the metals (NASDAQ:TMC) Stock Price Up 7.7% – Should You Buy?

TMC the metals company Inc. (NASDAQ:TMC)’s share price rose 7.7% on Tuesday . The stock traded as high as $2.03 and last traded at $2.03. Approximately 2,370,718 shares traded hands during trading, a decline of 29% from the average daily volume of 3,325,377 shares. The stock had previously closed at $1.88.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on shares of TMC the metals in a research note on Wednesday, January 15th. They set a “buy” rating and a $3.75 price target on the stock.

TMC the metals Trading Down 6.3 %

The business’s 50 day moving average is $1.39 and its two-hundred day moving average is $1.12. The company has a market cap of $719.86 million, a PE ratio of -7.16 and a beta of 1.54.

Insider Activity at TMC the metals

In other TMC the metals news, CFO Craig Shesky sold 47,523 shares of TMC the metals stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $0.85, for a total value of $40,394.55. Following the sale, the chief financial officer now directly owns 977,844 shares in the company, valued at approximately $831,167.40. The trade was a 4.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Erika Ilves sold 217,099 shares of TMC the metals stock in a transaction on Monday, December 30th. The shares were sold at an average price of $1.11, for a total transaction of $240,979.89. Following the completion of the sale, the insider now owns 998,170 shares in the company, valued at approximately $1,107,968.70. This represents a 17.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 30.00% of the stock is owned by corporate insiders.

Institutional Trading of TMC the metals

Large investors have recently made changes to their positions in the business. Gray Wealth Management Inc. increased its holdings in shares of TMC the metals by 59.7% in the 4th quarter. Gray Wealth Management Inc. now owns 23,700 shares of the company’s stock worth $27,000 after buying an additional 8,863 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of TMC the metals in the 4th quarter worth about $28,000. Raymond James Financial Inc. bought a new stake in shares of TMC the metals in the 4th quarter worth about $28,000. Independent Advisor Alliance bought a new stake in shares of TMC the metals in the 4th quarter worth about $42,000. Finally, Virtu Financial LLC bought a new stake in shares of TMC the metals in the 3rd quarter worth about $44,000. 4.39% of the stock is currently owned by institutional investors.

TMC the metals Company Profile

TMC the metals company Inc, a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California. It primarily explores for nickel, cobalt, copper, and manganese products. The company holds exploration and commercial rights in three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean.